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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Assets Measured On Recurring Basis


			Carrying Value at March 31, 2021 (in thousands)
Description	Balance as of March 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
US Treasuries	$2,022		$        -		$2,022		$          -
US agency obligations	46,751		-		46,751		-
Mortgage-backed securities	16,488		-		16,488		-
Municipals	28,250		-		28,250		-
Corporates	6,321		-		6,321		-

Total available-for-sale securities	$99,832		$       -		$99,832		$        -
IRLCs - asset	262		-		-		262
Total assets at fair value	$100,094		$      -		$99,832		$262

			Carrying Value at December 31, 2020 (in thousands)
Description	Balance as of December 31, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
US Treasuries	$2,027		$            -		$2,027		$            -
US agency obligations	41,320		-		41,320		-
Mortgage-backed securities	15,696		-		15,696		-
Municipals	24,773		-		24,773		-
Corporates	6,369		-		6,369		-

Total available-for-sale securities	$90,185		$           -		$90,185		$           -
IRLCs – asset	425		-		-		425
Total assets at fair value	$90,610		$           -		$90,185		$425



Impaired Loans And Other Real Estate Owned Measured At Fair Value On A Nonrecurring Basis

		Carrying Value at March 31, 2021
Description	Balance as of March 31, 2021	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Impaired loans*	$1,842	$     -	$          -	$1,842
Other real estate owned	761	-	-	761

*  Includes loans charged down to the net realizable value of the collateral.


		Carrying Value at December 31, 2020
Description	Balance as of December 31, 2020	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Impaired loans*	$1,829	$      -	$       -	$1,829
Other real estate owned	1,105	-	-	1,105

*  Includes loans charged down to the net realizable value of the collateral.

Fair Value Carrying And Notional Amounts


			Fair Value Measurements at March 31, 2021 using
				Quoted Prices		Significant
				in Active		Other		Significant
				Markets for		Observable		Unobservable
	Carrying			Identical Assets		Inputs		Inputs
Assets	Amounts			(Level 1)		(Level 2)		(Level 3)		Balance
   Cash and due from banks	$33,725			$33,725		$      -		$      -		$33,725
   Fed funds sold	90,325			90,325		-		-		90,325
Securities
      Available-for-sale	99,832			-		99,832		-		99,832
      Held-to-maturity	3,667			-		3,948		-		3,948
   Restricted stock	1,551					1,551		-		1,551
   Loans, net (1)	606,485			-		-		614,956		614,956
   Loans held for sale	4,150			-		4,150		-		4,150
   Interest receivable	303			-		303		-		303
   BOLI	16,453			-		16,453		-		16,453
   Derivatives - IRLCs	262			-		-		262		262

Liabilities
   Deposits	$801,190			$      -		$802,071		$      -		$802,071
   Capital notes	10,029			-		9,058		-		9,058
   Interest payable	64			-		64		-		64




			Fair Value Measurements at December 31, 2020 using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
Assets	Amounts		(Level 1)		(Level 2)		(Level 3)		Balance
   Cash and due from banks	$31,683		$31,683		$      -		$      -		$31,683
   Fed funds sold	69,203		69,203		-		-		69,203
Securities
      Available-for-sale	90,185		-		90,185		-		90,185
      Held-to-maturity	3,671		-		4,192		-		4,192
   Restricted stock	1,551		-		1,551		-		1,551
   Loans, net	601,934		-		-		598,745		598,745
   Loans held for sale	7,102		-		7,102		-		7,102
   Interest receivable	2,350		-		2,350		-		2,350
   BOLI	16,355		-		16,355		-		16,355
   Derivatives - IRLCs	425		-		-		425		425
Liabilities
   Deposits	$764,967		$       -		$766,212		$      -		$766,212
Capital notes	10,027		-		9,003		-		9,003
   Interest payable	85		-		85		-		85

(1) Carrying amount is net of unearned income and the Allowance.

Fair Value, Recurring [Member]

Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3


	Quantitative information about Level 3 Fair Value Measurements for March 31, 2021 (dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
IRLCs - asset	$262		Market approach	Range of pull through rate	70% - 100%  (85%)


(1) Weighted based on the relative value of the instruments




	Quantitative information about Level 3 Fair Value Measurements for December 31, 2020 (dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
IRLCs - asset	$425		Market approach	Range of pull through rate	70% - 100%  (85%)


(1) Weighted based on the relative value of the instruments



Fair Value, Nonrecurring [Member]

Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3


	Quantitative information about Level 3 Fair Value Measurements for March 31, 2021 (dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
Impaired loans	$1,842		Discounted appraised value	Selling cost	0% - 10% (8%)
				Discount for lack of marketability and age of appraisal	0% - 20% (6%)

OREO	761		Discounted appraised value	Selling cost	10%
				Discount for lack of marketability and age of appraisal	0% - 25% (15%)

(1) Weighted based on the relative value of the instruments.

Note 5 – Fair Value Measurements (continued)


	Quantitative information about Level 3 Fair Value Measurements for December 31, 2020 (dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
Impaired loans	$1,829		Discounted appraised value	Selling cost	0% - 10%  (8%)
				Discount for lack of marketability and age of appraisal	0% - 20%  (6%)

OREO	1,105		Discounted appraised value	Selling cost	10%
				Discount for lack of marketability and age of appraisal	0% - 25%  (15%)

(1) Weighted based on the relative value of the instruments.

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